DEATH SENTENCE GETS SUSPENDED IN SHANGHAI CASE
in China, the former chairman of one of Shanghai's biggest industrial companies...
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in China, the former chairman of one of Shanghai's biggest industrial companies was given a suspended death sentence for corruption. Wang Chengming, former chairman of Shanghai Electric Group Co, was given the sentence for taking part "in collective embezzlement and taking bribes," the official Xinhua news agency said. The Changchun Intermediate People's Court in Jilin province said Mr. Wang and two other businessmen had illegally pocketed more than 300 million yuan, or about $40 million, from land-transfer deals in Shanghai, Xinhua said. The affair has embroiled at least six businessmen linked to Shanghai Electric and at least six former senior government officials.
— SOURCES
- (Sources: Dow Jones, 24/12/2007)
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